As OPEC+ ministers convened their video conference, officials in Shanghai had just eased some of their Covid restrictions, joining other top-tier Chinese cities as authorities accelerate a shift toward reopening the economy after thousands of demonstrators took to the streets.
On Monday, the EU will ban most seaborne imports of Russian crude and block anyone else from using the region’s shipping or insurance services for purchases of Russian oil, unless it’s done so below a $60-a-barrel price cap.
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Oil cartel OPEC holds steady as Russia sanctions and China Covid-19 rules roil crude markets | BusinessThe Organization of Petroleum Exporting Countries and its allies responded to surging volatility and growing market uncertainty by keeping its oil production unchanged. | News24_Business
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